The Eaton Democrat. (Eaton, Ohio) 1875-1903, 1887-04-28
FOREIGN sPEcuLAToRs.

FOREIGN sPEcuLAToRs.
The Policy of the Land Onicc Has Been
Not to Discourage European Capital
But to Force Capitalists Abroad to In.
vest It Honestly.
Certain American citizens who
crossed the Atlantic not long ago with
the intention of selling in England or
Holland great slices of unimproved
land in our Territories have been
brought up with round turn by the
passage of the so-called Alien Land
lords act. One of them was ex-Sena-
tor Stephen w. Dorsey, who is said to
have had several millions of acres to
sell, and whose elaborate dinners in
London, have attracted the attention of
the Associated Press. Other Ameri-
cans have been offering to foreign in
vestors trifie of 79, 900, 900 acres Cor
two and one-haf times the area of the
State of New York; situated some
where in the wonderful Southwest,
where enormous ranches and bound
less Spanish grants grow from nothing
in a single night. But the foreigners
ardor has suddenly been chilled and
the American spectators have been
discouraged by the news that the
United States Government proposes to
keep the land for American citizens.
Our London correspondents says that
the English will not buy. They dis
play much anxiety concerning invest
ments heretofore made in American
lands and will take no more risks.
The largest company of negotiating
agents in Europe has resolved that it
will no longer deal in our Territorial
lands or securities. The act of Con-
gress that has so flattened out the
market for American grants and
ranches has been cabled to South
Africa, and probably to other col
onies, to make a boom in real estate
there, upon the assumption that the
stream of English capital will be di-
verted from American grazing dis
tricts to lands under the protection OF
British laws.
Possibly the Englishmen will not
suffer by reason of this new law. Ow-
ing to the activity of our General Land
Office the detection of almost innumer-
able cases of fraud on our public lands
promises to unsettle the 'titles'' OF
some vast estates built up by fraudu-
lent entry. Even if the Alien Land
lords act were not on the statute book
the purchase of some of these expanded
grants and ranches might be profit
less transaction. Even ex-senator Dor
sey's great ranch has been shorn OF
some of its outlying principalities.
At the command of the President
he has taken down fifty miles of fence
by which he had inclosed a great tract
to which he had no title. The expanded
Maxwell grant, so well known in Hol.
land, is still in the courts. Federal
officers are reporting every week ex-
panded Spanish grants for reclamation.
The large investment made by Scottish
capitalists in Humboldt County, Cal.
is in danger, because the lands in ques-
ton were obtained by the boldest
fraud, and the Government is prose.
cutting the thieves with the purpose Of
Furnishing them and recovering the
plunder.
Congress has very properly under.
taken to prevent the establishment o1
the landlord and tenant system o.
Great Britain in our Territories. Toe
many large tracts of land in the faI
West are already held by English
peers. It was intended by those who
made our laws for the distribution
of public land that the land should
go into the hands of actual settler!
in small parcels. Their purpose ha'
been defeated in thousands of cases
by fraud. Possibly the Alien Landlord
bill would not have been passed if th'
tracts now held by foreign capitalist
had not been procured fraudulently
These capitalists or their agents hav'
induced inscriptions citizens to com
NIT the frauds by which their estate
have been created. or they have bough
the estates from citizens who fraudu
lently took them from. the public do
main.
We have land thieves enough of on
OWu, nuo GaCy dhC ouAnOAOhoiy oSoi'O
even when they are not stimulated b.
the use of foreign capital. The Gov
ernment is now striving, in the face o
great obstacles, to preserve for actua
settlers the remnant of our public land
that has not been taken by syndicate
and speculators. These lands ar
needed for the use of small farmers
Foreign investors should understan
that the American people do not de
sire to shut out European capital, bu
propose that it shall be invested, if in
vested at all, honestly and in accord
ance with the spirit of our institutions
They are not willing that it shall b
used to support those who steal publ
land or for the establishment of vas
estates upon which Americen citizen
can live onlyas the tenants of foreig
/ owner.-M Y. Times.
1t may be expedient to prohibi
American vessels from going into Ca
madam ports for any purpose whatever
except for shelter in stress of weather
To limit the operation of the act to
new measure of protection" to pal
| l.